Samotics funding news – Leiden-based Samotics Secures €20Million in Funding

Supported by the European Commission's InvestEU initiative, the funds will help it enhance its AI technology, which improves the reliability and energy efficiency of electric motors.

This funding aligns with the EIB's goal to accelerate digital innovation in technologies like AI and microchips which are vital for Europe’s green transition and technological independence. The financing is backed by the "Future Tech" guarantee under the InvestEU initiative.

EIB Vice President Robert de Groot said, “This is one of those applications where the use of artificial intelligence can make a difference. It highlights that modern challenges require modern solutions, and this intelligent way of pre-empting problems and optimising energy efficiency is an important element in our decarbonisation journey. As part of our commitment to supporting technology and innovations critical for Europe’s competitiveness, we are proud to back Samotics.”

Jasper Hoogeweegen, CEO of Samotics said, “This funding from the EIB highlights the trust placed in our technology and its potential to revolutionise industrial reliability and sustainability. It’s a defining moment for Samotics as we further accelerate our growth and innovation journey,”.

About Samotics

Samotics, founded in 2015 by Simon Jagers and Gerben Gooijers, focuses on analyzing electrical data to enhance performance and energy efficiency. The company offers a solution for predictive maintenance and energy optimization in industrial settings using Electrical Signature Analysis (ESA).

Read also - Wingbits Funding News- Sweden- based Wingbits Raises €5.3Mn to Transform Flight Tracking

ESA works by detecting small changes in how an electric motor operates. These changes, which often appear before a failure, affect the motor's magnetic field, allowing issues to be identified early.